Appraisal Reviews with Saxton Appraisals, Inc.
As said in an announcement by the Federal Reserve, "financial institutions are obligated to have effective, unbiased real estate appraisal and evaluation procedures," and that appraisers fulfilling reviews ought to "have the ability and skillfulness to assess compliance with the Federal Reserves appraisal rules and guidelines." If you need appraisal review services that are independent, expert, professional and compliant with the Federal Reserve's rules, just contact Saxton Appraisals, Inc..
If you have questions in reference to an appraisal, or if you need a real estate appraisal review, call us today.
As stated by the Federal Reserve, appraisal reviews "must conclude whether the appraisal or evaluation is fitting for the transaction, the risk of the transaction, and whether the procedures by which the collateral valuation is obtained guarantees independence and quality." Moreover, they "must announce whether the appraisal or evaluation report matches the engagement letter, which sets forth the range of the appraisal assignment." Lastly, the Federal Reserve says that "some banks reinforce routine reviews with post-funding evaluations of appraisal quality for a number of their high-risk or greater-value dealings as a way to help in detecting valuation issues."
In addition to adapting our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are generally used for review services, and we will formulate an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Saxton Appraisals, Inc., we're skilled in all kinds of appraisal reviews, review practices and the responsibilities of review appraisers.
Saxton Appraisals, Inc. understands what the most frequent inadequacies are, particularly in our housing market. We also know what makes a quality appraisal. The professionals at Saxton Appraisals, Inc. are also trained enough to identify that the competition in our market are qualified to do a good job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on us to ethically evaluate appraisal reports completed by others. And those others may be reviewing our work, too!
In short, at Saxton Appraisals, Inc., you can rely on our neutral judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us for more information about our qualifications, expertise and service offerings.